MicroStrategy Holds Over 100K Bitcoin After Recent $489 Million Purchase
MicroStrategy recently announced an additional purchase of 13,005 Bitcoin for $489 million, increasing their total holding of BTC to 105,085.
MicroStrategy recently announced that it has acquired 13,005 additional bitcoin for approximately $489 million in cash, at an average price of around $37,617 per bitcoin, including fees and expenses. The company’s CEO and Bitcoin advocate Michael Saylor, now holds control over 105,085 bitcoin, acquired at an average purchase price of about $2.741 billion — averaging $26,080 price per bitcoin.
Saylor spoke at the Bitcoin 2021 conference in early June in Miami, and it’s worth mentioning that his company holds more bitcoin than any other publicly-traded company, in fact much more. The only entity known to hold more bitcoin at this point is investment management company Grayscale, with 654,885 BTC held in its bitcoin trust on behalf of investors — worth more than $24 billion at current valuation.
In the Miami Bitcoin conference, Saylor spoke about the tremendous impact that Bitcoin will have on the world:
“For the first time in history, we can grant property rights to seven billion people.”
The proceeds of MicroStrategy’s latest bitcoin purchase came from an offering of senior secured notes that the business intelligence company completed last week. Although the net proceeds of the sale amounted to approximately $488 million after expenses, it reportedly received more than $1.5 billion in orders from institutional investors. The offering, which assures a 6.125% annual interest rate, was announced two weeks ago when the bitcoin price was at a monthly low of around $33,400.
But Saylor has not been involved in Bitcoin only by HODLing the asset. The CEO has become a Bitcoin evangelizer on Twitter, an account which he didn’t use much before falling into “the rabbit hole.”
“#Bitcoin is a swarm of cyber hornets serving the goddess of wisdom, feeding on the fire of truth, exponentially growing ever smarter, faster, and stronger behind a wall of encrypted energy,” Saylor’s pinned tweet reads at the time of writing.
In addition, Saylor has recently been involved in the Bitcoin energy consumption debate. The MicroStrategy CEO met with Elon Musk and some North American bitcoin miners in May. After the closed-door gathering, the Bitcoin Mining Council was announced and launched a couple of weeks afterward. The council, whose initial meeting was heavily criticized by some bitcoiners in the industry, is now open for any bitcoin miner to join.
The #bitcoin mining industry has no obligation to appease Elon Musk and other hysterical hypocrites.
Bitcoiners should seek objective Truth and reject the faulty framing from which these hysterical hypocrites want to debate.https://t.co/0JZLWtUXSm
However, those who do are allegedly required to promote Bitcoin’s core principles of a decentralized, peer-to-peer, censorship-resistant and open-source protocol.
MicroStrategy is an independent, publicly-traded analytics and business intelligence company. Its analytics platform, used by many companies worldwide, empowers MicroStrategy’s main corporate goal of growing its enterprise analytics software business. And the company’s second corporate goal is to acquire and hold bitcoin.
